Review of World Economics最新文献

Gravity and trade in video on demand services 视频点播服务的引力和贸易

IF 1.7 3区经济学

Review of World Economics Pub Date : 2024-09-12 DOI: 10.1007/s10290-024-00561-5

Annette Broocks, Zuzanna Studnicka

引用次数: 0

Patterns of global and regional integration in the East African Community 东非共同体的全球和地区一体化模式

IF 1.7 3区经济学

Review of World Economics Pub Date : 2024-09-11 DOI: 10.1007/s10290-024-00558-0

Sebastian Krantz

引用次数: 0

The evolution of manufacturing comparative advantage along global value chains: the amplifying role of logistics performance 全球价值链上制造业比较优势的演变：物流绩效的放大作用

IF 1.7 3区经济学

Review of World Economics Pub Date : 2024-09-07 DOI: 10.1007/s10290-024-00560-6

Lei Yang, Qianli Dong, Ziqiang Tong, Qiuling Wang, Jiani Wu, Lili Wang

引用次数: 0

Trade, productivity, and services input intensity 贸易、生产力和服务投入强度

IF 1.7 3区经济学

Review of World Economics Pub Date : 2024-07-30 DOI: 10.1007/s10290-024-00548-2

Bernard Hoekman, Marco Sanfilippo, Filippo Santi, Rohit Ticku

引用次数: 0

Do investors reward sovereign catastrophe bond issuance? Evidence from a panel of 26 disaster-prone countries 投资者会奖励主权巨灾债券的发行吗？来自 26 个易受灾害影响国家小组的证据

IF 1.7 3区经济学

Review of World Economics Pub Date : 2024-07-30 DOI: 10.1007/s10290-024-00557-1

Raluca Maran

{"title":"Do investors reward sovereign catastrophe bond issuance? Evidence from a panel of 26 disaster-prone countries","authors":"Raluca Maran","doi":"10.1007/s10290-024-00557-1","DOIUrl":"https://doi.org/10.1007/s10290-024-00557-1","url":null,"abstract":"There is extensive evidence in the literature that countries confronted with higher exposure to natural disasters are faced with higher sovereign borrowing costs, as investors request a risk premium to offset disaster risk. On the other hand, market participants may salute efforts by governments to reduce their financial exposure to natural disaster events. This paper makes several contributions to the existing literature. It is the first to investigate whether investors view disaster-prone countries more favorably when they issue sovereign catastrophe (CAT) bonds as a means to mitigate the risks associated with natural catastrophes. Through the use of a feasible generalized least squares model and data from 26 countries spanning from 2000 to 2022, I find that the issuance of sovereign CAT bonds leads to a reduction in long-term sovereign bond yields ranging from 0.79 to 1.88 percentage points on average depending on the model specification used. Furthermore, partitioning the sample into OECD and non-OECD members reveals that the magnitude of this impact is more pronounced in the former group. Additionally, issuing CAT bonds is shown to compress the spread between yields on 10-year sovereign bonds and 3-month Treasury bills by an average of 1.98 percentage points. Other important findings are that the effects of CAT bond issuance are heightened in countries with more developed financial markets and higher levels of carbon dioxide emissions.","PeriodicalId":47405,"journal":{"name":"Review of World Economics","volume":null,"pages":null},"PeriodicalIF":1.7,"publicationDate":"2024-07-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141863723","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

The impact of natural disasters on US business credit markets: a comparative analysis of short-term and long-duration events 自然灾害对美国商业信贷市场的影响：短期和长期事件的比较分析

IF 1.7 3区经济学

Review of World Economics Pub Date : 2024-07-28 DOI: 10.1007/s10290-024-00554-4

Capucine Nobletz

引用次数: 0

Do former employees of foreign MNEs boost incumbent workers’ wages in domestic firms? 外国跨国企业的前雇员是否会提高国内企业在职员工的工资？

IF 1.7 3区经济学

Review of World Economics Pub Date : 2024-07-28 DOI: 10.1007/s10290-024-00552-6

Eoin T. Flaherty

引用次数: 0

“When you need it quick, let us ship it right”: on the importance of port efficiency and service quality to comply with food trade standards in Ghana "当你需要快速运输时，让我们来正确运输"：港口效率和服务质量对遵守加纳食品贸易标准的重要性

IF 1.7 3区经济学

Review of World Economics Pub Date : 2024-07-28 DOI: 10.1007/s10290-024-00549-1

Lukas Kornher, Daniel Sakyi, Linus Linnaeus Tannor

{"title":"“When you need it quick, let us ship it right”: on the importance of port efficiency and service quality to comply with food trade standards in Ghana","authors":"Lukas Kornher, Daniel Sakyi, Linus Linnaeus Tannor","doi":"10.1007/s10290-024-00549-1","DOIUrl":"https://doi.org/10.1007/s10290-024-00549-1","url":null,"abstract":"Agricultural exports are especially important because of their great potential for poverty reduction among smallholder farmers. However, many African countries, such as Ghana, fail to realize their full export potential due to institutional and technical constraints. This paper examines the importance of port efficiency and service quality in complying with food trade standards in Ghana. We provide a stylized theoretical model in which exporting firms are willing to pay for improved port service quality as long as the marginal revenue derived from a reduced likelihood of (border) rejection exceeds the marginal costs for improved service quality. We test the model’s predictions using primary data from 120 agri-food exporters in Ghana. Our results show that about two-thirds of exporting firms have a positive willingness-to-pay for a reduction in the handling time at the port and the risk of spoilage due to inadequate handling. These findings emphasize the importance of trade facilitation measures in improving port efficiency and service quality to accelerate agricultural exports.","PeriodicalId":47405,"journal":{"name":"Review of World Economics","volume":null,"pages":null},"PeriodicalIF":1.7,"publicationDate":"2024-07-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141785264","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

On deep trade agreements, institutions, and global value chains: evidence from Egypt 关于深度贸易协定、机构和全球价值链：来自埃及的证据

IF 1.7 3区经济学

Review of World Economics Pub Date : 2024-07-27 DOI: 10.1007/s10290-024-00546-4

Fatma Aly, Chahir Zaki

{"title":"On deep trade agreements, institutions, and global value chains: evidence from Egypt","authors":"Fatma Aly, Chahir Zaki","doi":"10.1007/s10290-024-00546-4","DOIUrl":"https://doi.org/10.1007/s10290-024-00546-4","url":null,"abstract":"This paper investigates the nexus between deep trade agreements, institutional quality, and global value chains (GVCs) in Egypt. Indeed, the enforcement of deep trade agreements requires good institutions to boost GVCs. Applying a Poisson Pseudo-Maximum Likelihood (PPML) estimator to control for heteroscedasticity and zero trade flows, we use bilateral and sectoral data on Egypt’s exported Foreign Value-Added (FVA) from the Eora dataset and merge it with the Deep Trade Agreement Dataset (World Bank). The findings of the paper support the positive relationship between the depth of trade agreements and GVCs at the aggregate level. In addition, differences in the quality of institutions reduce this positive effect. However, the sectoral analysis revealed a lot of heterogeneity across different sectors. Comparing the coefficients of trade agreements for different periods, one can conclude that GVC linkages in human-capital and technology intensive products have started to respond to deep trade agreements, pointing out the agreement depth matters for exports upgrading. The results remain robust after we control for the endogeneity between GVC and the depth of trade agreements and after we use alternative measures for institutions and for the agreement depth. From a policy perspective, this paper highlights the importance of deepening agreements and improving the quality of institutions to increase the participation of African countries, including Egypt in GVCs.","PeriodicalId":47405,"journal":{"name":"Review of World Economics","volume":null,"pages":null},"PeriodicalIF":1.7,"publicationDate":"2024-07-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141775113","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Global value chains and aggregate productivity growth in developing countries: the role of intra-sectoral allocation and structural change 发展中国家的全球价值链和总体生产力增长：部门内分配和结构变革的作用

IF 1.5 3区经济学

Review of World Economics Pub Date : 2024-07-20 DOI: 10.1007/s10290-024-00550-8

Solomon Owusu

引用次数: 0